RE: RE: RE: RE:RE: RE: Market

Rather than guessing I talked to the company today and confirmed at the current burn rate they have over 12 months cash and no need for financing.

Also, in their news release dated November 27th:

"With current working capital on hand, the Corporation expects to have adequate funding to provide for general operations and to meet the Corporation’s minimum work requirements with the government of the Northern Territory of Australia for a period of at least 12 months."

Their cash in the bank is well in excess of the current enterprise value making them possibly the most attractive takeover candidate in Canada. That combined with a strategic review process today and Instinet buying millions of shares, I think we are looking quite good from here :)